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Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Reconciliation of Net Income

The following table reconciles net income, the most directly comparable GAAP measure, to NOI:

			Year Ended December 31
			2024						2023						2022
Net income			$	13,658					$	5,269					$	52,233
Adjustments to reconcile to NOI:
Other income and expense, net			(3,755)						(5,480)						(2,030)
Equity in losses (earnings) of unconsolidated entities			—						557						(3,663)
Interest expense, net			37,100						38,138						26,777
Loss on extinguishment of debt			—						15						181
Gain on sale of investment properties, net			(3,857)						(2,691)						(38,249)
Impairment of real estate assets			3,854						—						—
Depreciation and amortization			113,948						113,430						94,952
General and administrative			33,172						31,797						33,342
Other fee income			—						(80)						(2,566)
Adjustments to NOI (a)			(7,548)						(7,528)						(9,743)
NOI			$	186,572					$	173,427					$	151,234

(a)Adjustments to NOI include lease termination income and expense and GAAP Rent Adjustments.

Schedule of Disaggregation of Significant Expenses

The following table reflects the disaggregation of property operating expenses:

			Year ended December 31
			2024						2023						2022
Repairs and maintenance			$	13,366					$	14,270					$	15,120
Payroll, benefits, and office			10,510						10,690						8,336
Utilities and waste removal			9,462						8,747						7,760
Property insurance			6,668						5,552						4,168
Security, legal, and other expenses			3,387						3,573						4,855
Lease termination expense			20						—						—
Property operating expenses			$	43,413					$	42,832					$	40,239

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

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-Topic 280
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-Section 50
-Paragraph 30
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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

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